Sometimes parents learn financial lessons from the kids!

I believe allowance and other Tween forms of income are the perfect means to help a not-quite-teen, learn how to manage money wisely. While still young, they might make a few financial mistakes and (hopefully) LEARN from them!

Teaching Financial Independence for Tweens

Letting kids handle a few of their own expenses gives them that all important sense of independence they crave. Think small things: like a $3 fee for the school-wide planner, or traveling snacks for a field trip. Buying treats or ‘extras’ like Friday night outings with friends is another way to encourage savvy spending skills by saving up first.

Recently, my Tween 12yrold needed a few dollars for an after-school ‘dance’. Really a ‘rewards’ party where the kids who have no detentions and high grades hang out right after school and while music definitely is playing.. I have yet to hear of any actual dancing. The cost was $3. Yet she babysat only last week, so why was she asking for her allowance a few days early I wondered?

Communication With Tweens About Finances

I asked her directly and she was less than forthcoming about her financial spending habits. I wasn’t sure what to do? I finally bit my tongue and coughed up the dough. The whole point is to allow her to figure out her personal spending space, so how much should I interfere? Already I can tell you she is amazingly giving and therefore ‘free’ with her money. She buys her friends’ small gifts, and will forego a nicer trinket for herself because she would rather add to her sister’s spending budget for the coveted little turtle necklace.

Fast forward to a certain recent Sunday Morning during the mad dash to get to church on time, hurriedly eating breakfast and the kids begin begging mom to open the ‘Mother’s day’ gifts. You know the ones. Mangled pottery crafts, and tissue paper flower bouquets? “Oh okay, I said, I’ll hurry and unwrap these, but then we’ve got to Move it, Move it!”

Except.

The gift from my Tween, was a lovely lavender lotion and shower gel set. (She knows lavender is my favorite).

This gave me pause. Why? Because there is a small ‘store’ in her Jr. High. Where the kids are allowed to purchase items for various reasons; for friends, for Christmas and other holidays. Parents and other organizations donate the items and they are sold to the children at minimal prices.

She had used her own money to purchase Mother’s Day gifts (thoughtfully locating the favorite scent)! I think she’s getting the financial skillz after all. Or at least, she’s learning if she overspends on gifts for mom, she’ll still be able to borrow a few bucks for the all important school functions.

Even better? My younger daughter gave me little round silver earrings, (in addition to the much loved paper flowers)… and SuperTween had not only purchased the hoops, she had also allowed her sister to give them to me!